Nelnet (NYSE:NNI) Stock Rating Lowered by StockNews.com

StockNews.com cut shares of Nelnet (NYSE:NNIFree Report) from a buy rating to a hold rating in a research note released on Friday.

NNI has been the subject of several other reports. TheStreet lowered shares of Nelnet from a b- rating to a c rating in a research report on Thursday, November 9th. TD Cowen began coverage on Nelnet in a report on Wednesday, November 1st. They issued a market perform rating and a $95.00 price objective on the stock.

Check Out Our Latest Report on NNI

Nelnet Stock Up 1.7 %

NYSE NNI opened at $90.72 on Friday. The company has a quick ratio of 44.25, a current ratio of 44.25 and a debt-to-equity ratio of 3.82. The company has a fifty day moving average of $86.51 and a two-hundred day moving average of $88.75. The firm has a market capitalization of $3.39 billion, a price-to-earnings ratio of 25.74 and a beta of 0.86. Nelnet has a 52 week low of $81.67 and a 52 week high of $101.60.

Nelnet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Stockholders of record on Friday, March 1st will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date of this dividend is Thursday, February 29th. Nelnet’s dividend payout ratio is presently 32.00%.

Institutional Investors Weigh In On Nelnet

Institutional investors have recently added to or reduced their stakes in the business. Group One Trading L.P. purchased a new stake in Nelnet in the first quarter valued at approximately $26,000. Lazard Asset Management LLC purchased a new stake in shares of Nelnet during the fourth quarter worth approximately $29,000. CWM LLC raised its stake in shares of Nelnet by 176.5% during the fourth quarter. CWM LLC now owns 412 shares of the credit services provider’s stock worth $36,000 after purchasing an additional 263 shares during the last quarter. TFO Wealth Partners LLC raised its stake in shares of Nelnet by 49,900.0% during the fourth quarter. TFO Wealth Partners LLC now owns 500 shares of the credit services provider’s stock worth $44,000 after purchasing an additional 499 shares during the last quarter. Finally, US Bancorp DE raised its stake in shares of Nelnet by 31.1% during the second quarter. US Bancorp DE now owns 502 shares of the credit services provider’s stock worth $48,000 after purchasing an additional 119 shares during the last quarter. Hedge funds and other institutional investors own 33.51% of the company’s stock.

About Nelnet

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Nelnet, Inc engages in loan servicing, communications, education technology, services, and payment processing businesses worldwide. Its Loan Servicing and Systems segment provides loan conversion, application processing, borrower updates, customer service, payment processing, due diligence procedures, funds management reconciliation, and claim processing services.

Further Reading

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